SECURITIES AND EXCHANGE COMMISSION
           Washington, D.C.  20549
                    FORM 8-K
           CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

Date of Report (date of earliest event reported): June 20, 2001

BANC ONE HELOC TRUST 1999-1
   (Exact name of registrant as specified in its charter)

 United States       	333-59845-01 	 	   36-7282500
 (State or Other 	(Commission File	(I.R.S Employer
Jurisdiction of  	 Number)		Identification
Incorporation					Number)

c/o Bank One, National Association
Corporate Trust Services Division - 1 N. State Street,
9th Floor
Chicago IL
(Address of Principal Executive Offices)

60670
(Zip Code)

Registrant's telephone number, including area code:		312-336-9730

Item 5.	Other Events
On behalf of Banc One HELOC Trust 1999-1, a Trust created pursuant to the
Pooling Agreement, dated May 31, 1999, the Paying Agent has caused to
be filed with the Commission, the Monthly Report dated June 20, 2001.
The Monthly Report is filed pursuant to and in accordance with (1) numerous
no-action letters (2) current Commission policy in the area.  The filing of the
Monthly Report will occur subsequent to each monthly distribution to the
holders of the Trust's Investor Certificates.

A.	Monthly Report Information: Aggregate distribution information
	for the current distribution date June 20, 2001.
		     Principal	  Interest	  Ending Balance
Cede & Co.	$16,668,540.36   $1,211,348.72	 $ 317,977,437.06


B.	No delinquency in payment under the Transferor Certificate, or
	the MBIA Insurance Policy has occurred.

C.	Have any deficiencies occurred?  NO. Date: Amount:

D.	Were any amounts paid or are any amounts payable under the
	MBIA Insurance Policy?  NO Amount:

E.	Are there any developments with respect to the MBIA Insurance
	Policy?  NONE.

F.	Item 1:  Legal Proceedings:  NONE

G.	Item 2:  Changes in Securities:  NONE

H.	Item 4:  Submission of Matters to a Vote of Security Holders:  NONE

I.	Item 5:  Other Information - Items 1, 2, 4, 5 if applicable:  NOT
	APPLICABLE

Item 7.	Monthly Statements and Exhibits
Exhibit No. 1.	Monthly Statement to Certificateholders dated June 20, 2001






	Statement to Certificateholders (Page 1 of 2)

	Distribution Date:						6/20/01

		INVESTOR CERTIFICATES DISTRIBUTION SUMMARY
		(PER $1000 ORIGINAL PRINCIPAL AMOUNT)

	A.	INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS

		Investor Certificate Interest Distributed		2.422697
		Investor Certificate Interest Shortfall Distributed	0.000000
		Remaining Unpaid Investor Certificate Interest Shortfall	0.000000

		Managed Amortization Period ? (Yes=1; No=0)	1
		Investors Certificate Principal Distributed	33.337081
		  Principal Distribution Amount		33.193114
		     Maximum Principal Payment		45.995660
		     Alternative Principal Payment	33.193114
		     Principal Collections less Additional Balances	33.193114
		  Investor Loss Amount Distributed to Investors	0.060832
		  Accelerated Principal Distribution Amount	0.083135
		  Credit Enhancement Draw Amount		0.00

		Total Amount Distributed to Certificateholders (P & I)	35.759778

	B.	INVESTOR CERTIFICATE PRINCIPAL BALANCE

		Beginning Investor Certificate Balance	334,645,977.42
		Ending Investor Certificate Balance	317,977,437.06
		Beginning Invested Amount		342,539,628.35
		Ending Invested Amount			325,912,655.42
		Investor Certificateholder Floating Allocation Percentage	97.1225%
		Pool Factor				0.6359549
		Liquidation Loss Amount for Liquidated Loans	31,317.12
		Unreimbursed Liquidation Loss Amount	0.00

	C.	POOL INFORMATION

		Beginning Pool Balance	352,688,123.07
		Ending Pool Balance	336,060,249.00
		Servicing Fee		146,953.38

	D.	INVESTOR CERTIFICATE RATE

		Investor Certificate Rate	4.343750%
		LIBOR Rate	4.083750%
		Maximum Rate	8.213649%

	E.	DELINQUENCY & REO STATUS

		Delinquent 30-59 days
		    No. of Accounts		126
		   Trust Balances		3,873,150.00
		Delinquent 60-89 days
		    No. of Accounts		43
		   Trust Balances		1,285,710.00
		Delinquent 90+ days
		    No. of Accounts		70
		   Trust Balances		2,565,306.00
		Delinquent 9+ Months
		    No. of Accounts		0
		   Trust Balances		0.00
		REO
		    No. of Accounts		0
		   Trust Balances		0.00


	Statement to Certificateholders (Page 2 of 2)

	Distribution Date:						6/20/01

		IN WITNESS WHEREOF, the undersigned has caused this
		Certificate to be duly executed and certifies to the
		best of her knowledge and belief that information is true
		and correct this 15th day of June, 2001

		       Bank One, N.A.
		       as Servicer

			/s/ Tracie Klein
		       _______________________________________

		       Tracie Klein
		       Vice President

	Distribution List:

	"   Keith Richardson - Bank One, N.A."



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

BANC ONE HELOC TRUST 1999-1

By:	/s/ Keith Richardson
Name:	Keith Richardson
Dated June 20, 2001